states, correct errors and to realize specific feedforward-based quantum computing and communication schemes such as deterministic quantum teleportation. These feedback and feedforward operations are required to be fast compared to the coherence time of the quantum system to minimize the probability of errors. We present a field programmable gate array (FPGA) based digital signal processing system capable of real-time quadrature demodulation, determination of the qubit state and generation of state-dependent feedback trigger signals. The feedback trigger is generated with a latency of 110ns with respect to the timing of the analog input signal. We characterize the performance of the system for an active qubit initialization protocol based on dispersive readout of a superconducting qubit and discuss potential applications in feedback and feedforward algorithms.