  We present a detailed analysis of the soft X-ray spectrum of the Seyfert 1
galaxy Markarian 509 taken with the XMM-Newton Reflection Grating Spectrometer.
An underlying power-law continuum and three warm absorber phases provide a good
fit to the data along with a number of broad and narrow emission lines. Our
three warm absorber phases each have different ionization parameters and column
densities. We identify a low ionization, log xi=0.89, high outflow velocity
phase producing an Fe M-shell UTA feature along with absorption from O VI and N
VI. There is an intermediate phase, log xi=2.14, showing absorption from H-like
carbon and nitrogen and He-like neon and oxygen. The third, high ionization,
log xi=3.26, low outflow velocity phase contains absorption from O VIII, Ne X
and highly ionized iron. All phases are blueshifted with respect to the
systemic velocity with flow velocities ranging from -60km/s to -510km/s. The
observed broad emission features have an RMS velocity of ~8000km/s for the C VI
and O VII lines.
