A new short-period event detector has been implemented on the Seismic Research Observatories. For each signal detected, a printed output gives estimates of the time of onset of the signal, direction of the first break, quality of onset, period and maximum amplitude of the signal, and an estimate of the variability of the background noise. On the SRO system, the new algorithm runs ~2.5x faster than the former (power level) detector. This increase in speed is due to the design of the algorithm: all operations can be performed by simple shifts, additions, and comparisons (floating point operations are not required). Even though a narrow-band recursive filter is not used, the algorithm appears to detect events competitively with those algorithms that employ such filters. Tests at Albuquerque Seismological Laboratory on data supplied by Blandford suggest performance commensurate with the on-line detector of the Seismic Data Analysis Center, Alexandria, Virginia.