The amount of uncompensated dispersion that is tolerated in optical communications links decreases sharply with increase in channel line-rates. Since this holds for each channel individually, multi-wavelength WDM transmission at high bit-rates requires simultaneous dispersion compensation over the entire spectral range of interest. This entails compensating for the dispersion slope as well as the dispersion of the transmission fibers used in the link. The class of non-zero dispersion-shifted fibers (NZDSF), which are widely deployed today, exhibit high relative dispersion slopes. Thus, dispersion management of 40 Gb/sec links comprised of NZDSF poses a significant challenge. This talk will introduce a novel dispersion compensation scheme that utilizes propagation in a higher-order mode of a few-moded fiber. The primary advantage of higher order modes is that they exhibit larger dispersions as well as dispersion slopes. This facilitates broadband compensation for any transmission fiber among the class of NZDSF. In addition, these modes have larger effective areas, and hence reduce non-linear distortions in the transmitted signal. Consequently, this compensation technique provides the additional benefit of maintaining higher signal powers throughout the span, which in turn leads to longer transmission distances. Recent breakthroughs that allow for low loss, broadband mode-conversion have made this technology viable for practical applications. The physics and characteristics of this technology will be described, and its attendant systems advancements will be compared with that of alternate schemes.