Microsoft’s much anticipated free anti-malware security offering will launch into beta next Tuesday June 23, one week before retail sales of the Windows Live OneCare subscription service are due to be discontinued.

Code-named “Morro” the new system was first announce back in November 2008, when Microsoft said it wanted to provide consumers with free comprehensive protection from malware including viruses, spyware, rootkits and trojans.

When it launches next week, it will be known as Microsoft Security Essentials.

It is reported to offer real-time protection using a dynamic signature service to scan each new action from an unknown source, and a rootkit protection system to protect against rootkits and other aggressive attacks.

It has been architected for a smaller footprint that will use fewer computing resources, making it ideal for low-bandwidth scenarios or less powerful PCs. It means a PC will not slow as it runs an antivirus scan. Use of smart caching also means that antivirus signatures do not take up too much storage.

The anti-malware software is compatible with all Windows XP, Vista, and Windows 7 machines.