An apparatus and method for converting an instruction and data trace to an executable program are provided. The apparatus and method are used to convert an instruction and data trace to an executable binary program that may then be used on a new computer system such that the simulations and the final computer both have similar run characteristics for a true comparison. The apparatus and method traverse a linear sequence of trace instructions to replace register names with unique labels and propagate these unique labels through the trace instructions. Thereafter, the trace instructions are traversed in a reverse direction to calculate register values based on the value of conditional branch registers. The resulting register values and corresponding memory addresses are then assembled into an executable program.