Scheme86 is a computer system designed to interpret pro grams written in the Scheme dialect of Lisp. A specialized architecture, coupled with new techniques for optimizing register management in the interpreter, allow Scheme86 to execute interpreted Scheme at a speed comparable to that of compiled Lisp on conventional workstations. The Scheme86 design is based on the observation that sequences of chronologically dependent memory references are often the factor limiting the execution speed of Lisp programs. To attack the dependent reference problem, the architecture is optimized to reduce the latency of memory-processor-memory operations. Parallel execution units allow multiple operations to occur during each machine cycle, making effective use of a low-latency memory system. Keywords: Programming languages; Computer architecture; Interpretive techniques. (jhd).