Spectral and Timing Properties of the Low-mass X-ray Binary 4U 0614+09 with XMM-Newton

4U 0614+09 is a low-mass X-ray binary with a weakly magnetized neutron star primary. It shows variability on time scales that range from years down to ~0.8 milliseconds. Before the Chandra and XMM-Newton era, emission features around 0.7 keV have been reported from this source, but recent Chandra observations failed to detect them. Instead, these observations suggest an overabundance of Ne in the absorbing material, which may be common to ultracompact (P_{orb} simless 1 hour) systems with a neon-rich degenerate dwarf secondary. We observed 4U 0614+09 with XMM-Newton in March 2001. Here we present the energy spectra, both from the RGS and EPIC cameras, and the Fourier power spectra from EPIC high-time resolution light curves, which we use to characterize the spectral state of the source.