Improvements in sampling and recording technology have made it possible to acquire data at rates of higher than 1 Gbit/s. In very long baseline interferometry, the use of wide-bandwidth data produces a high SNR, which is proportional to $sqrt{2BT}$ (B is bandwidth and T is integration time). In astronomical applications, wide-bandwidth data acquisition can be used to detect very small flux densities of cosmic radio sources. It is also useful in geodetic applications. The signal processing of the current correlation processing algorithm is bit serial. The data-processing speed, however, is restricted by the correlation device clock in serial data processing, and as a result, the device speed prevents the whole (channel) bandwidth from being used for observations. To overcome this problem, a new correlation processing algorithm for parallel bit stream set processing has been developed. This article focuses on how to derive serial data processing algorithms for parallel bit stream.