Cubase 8 External FX delay

Intel I7
32 Gbyte RAM
Windows 7
Cubase 8.0.4

I am having difficulty wrapping my head around an issue I am experiencing with Cubase 8 and my Lynx Aurora 8 AES16. When I route a signal out to any hardware compressors or EQ, the signal returns with a delay (sorta sounds like a slapback delay). Delay compensation in Cubase does not remedy the issue. Steps I have taken thus far: 1. Set up EXTERNAL FX in Cubase 8 for EQ 2. Assign EXTERNAL FX to insert of, for example, a guitar track 3. Ping the bypassed hardware (cubase delay compensation) 4. Switch off bypass on the hardware 5. Start sending the Guitar signal to compressor 6. Returns delayed with sort of slapback, smeared effect.
Also tried calculating samples with an exported post fx track and still sounds phasy/smeared. BTW The post fx part appears before the original one (meaning -latency).

I made sure everything is configured properly in BIOS. Then ran DPC latency checker and got a really low latency result. Then Recorded a sine wave within ableton live and the waves were almost completely in sync still having the delay when using the GA EQ Then started Cubase and got a blue screen while changing input and outputs. After i recorded the sine wave i got a 45 ms latency (on 8192). What now?
ASIO guard was not activated and disk preload set to 6
Changing Digital out settings within the Aurora/AES16 did not improve results.
Still getting a massive delay when using the GA as an External fx. Tried on a new project as well.

Any ideas?

You are monitoring the return signal twicw. Once through your soundcard, and once through cubase external fx routing