This document describes the development of an algorithm for a 16-bit Wallace tree multiplier (WTM). It begins with an overview of binary multiplication methods and why the Wallace tree structure is advantageous in reducing propagation delay. The document then discusses improvements made to the basic WTM algorithm, including a new method for generating partial products using fewer logic gates. It presents the design, synthesis and testing of WTM circuits of varying sizes on a Spartan-3E FPGA board. Performance metrics like delay, area, power-delay product and area-delay product are measured and compared to other multipliers. The 16-bit WTM is found to have superior performance to the other multipliers in terms of delay, area and speed.