Performance analysis tools are more than ever inevitable to develop applications that utilize the enormous computing resources of high performance computing (HPC) systems. In event-based performance analysis the amount of collected data is one of the most urgent challenges. The resulting measurement bias caused by uncoordinated intermediate memory buffer flushes in the monitoring tool can render a meaningful analysis of the parallel behavior impossible. In this paper we address the impact of intermediate memory buffer flushes and present a method to avoid file interaction in the monitoring tool entirely. We propose an MPI-focused tracing approach that provides the complete MPI communication behavior and adapts the remaining application events to an amount that fits into a single memory buffer. We demonstrate the capabilities of our method with an MPI-focused prototype implementation of OTFX, based on the Open Trace Format 2, a state-of-the-art Open Source event tracing library used by the performance analysis tools Vampir, Scalasca, and Tau. In a comparison to OTF2 based on seven applications from different scientific domains, our prototype introduces in average 5.1% less overhead and reduces the trace size up to three orders of magnitude.