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A modified CMOS realization of the operational transresistance amplifier (OTRA) is presented. A fair comparison with Salama and Soliman OTRA [1] shows that the modified OTRA provides better performance in all parameters. The OTRA is suitable for analog VLSI applications since it does not suffer from constant gain bandwidth product. Hence, it can exhibit wide bandwidth at high gain values. Moreover, an OTRA based variable gain amplifier (VGA) is introduced. A detailed analysis taking the effect of the finite transresistance gain in consideration is provided.