Recent progress in the development of a beam position monitor system (BPM), based on the log‐ratio technique, is described in this paper. A complete electronic analysis is presented, showing linearity, dynamic range, noise, RF burst response, and temperature dependence. A calibration technique has been developed, which corrects the errors due to mismatched channels and electronics drift. This technique is particularly effective because of the log‐ratio property for beam position monitoring. This circuit is the most likely candidate for beam position monitor electronics at the SSC.