1. A system, comprising: a connector configured to be connectable to a serial link; and a module coupled to the connector, wherein the module is operable to receive first serial data transmitted over the serial link through the connector and transmit second serial data to the serial link through the connector, and wherein the module includes: a receiver operable to receive the first serial data from the serial link through the connector; a first circuit configured to deserialize the first serial data to generate deserialized data; a decoder configured to decode the deserialized data; a first buffer operable to store data that has been deserialized and decoded by the first circuit and the decoder, respectively; a second buffer operable to receive data, wherein the second buffer is in data communication with a second circuit that is configured to serialize data received via the second buffer to generate the second serial data; and a transmitter operable to transmit the second serial data to the serial link through the connector; wherein the module is configured to determine whether an amount of data stored in the first buffer equals or exceeds a fill amount associated with a storage capacity of the first buffer; and wherein the module is operable to generate a flow control signal in response to the amount of data stored in the first buffer equaling or exceeding the fill amount, and wherein the module is further configured to transmit the flow control signal through the serial link and the connector without passing the flow control signal through the second buffer.