A computer operating system manages events. An application program or another part of the operating system defines an event monitor to monitor one or more types of events on its behalf. When each of the monitored events occurs, the event monitor is signalled and stores the event signal. Under certain conditions, the event monitor can notify an event handler, and the event handler can access the stored event signals. The event monitor can be defined and established dynamically, i.e. throughout operation of the computer without stopping or relinking the computer system. In the absence of an event monitor which is interested in an event, signals of the event are nevertheless stored. When an interested event monitor is subsequently established, the previously stored event signals are transferred to the interested event monitor. Thus, the event handler has the benefit of previous event signals. The event can be a trace event, and the event handler associated with each event monitor can receive and handle the trace events in real time.