  We define an integrable hamiltonian system of Toda type associated with the
real Lie algebra $\so{p}{q}$. As usual there exists a periodic and a
non-periodic version. We construct, using the root space, two Lax pair
representations and the associated Poisson tensors. We prove Liouville
integrability and examine the multi-hamiltonian structure. The system is a
projection of a canonical $A_n$ type Toda lattice via a Flaschka type
transformation. It is also obtained via a complex change of variables from the
classical Toda lattice.
