An optical intensity modulator for high-speed RZ and NRZ data modulation based on a balanced three-arm Mach-Zehnder interferometer. The three arms are joined at the input and output sides of the device by three-way couplers. The input coupler is structured to couple approximately equal powers into the first and third arms and no more than 50% power into the second arm. In the straight sections of the arms, there is arranged an AC electrode structure for applying an RF modulation signal and a DC electrode structure for biasing the device at a working point. The AC electrode structure is arranged so that an applied modulation signal induces a negative phase shift (−&Dgr;&phgr;) in the first arm in relation to the second arm and a positive phase shift (+&Dgr;&phgr;) in the third arm in relation to the second arm.