A reconfigurable wavelength selective dispersion compensation device RWSDCD for selective compensation of dispersion in optical channels having different wavelengths. The RWSDCD comprises a controllable wavelength selective unit WSU having a plurality of local, wavelength related input/output (I/O) ports. The RWDSD also comprises a dispersion compensation cascade comprising at least one chain of successively connected dispersion compensation units DCUs, wherein one or more of the DCUs in the chain are respectively connectable to one or more of the local I/O ports. The RWSDCD outputs one or more of the incoming optical channels upon selectively compensating chromatic dispersion in them, by controllably passing these channels via one or more DCUs of the dispersion compensation cascade.