MAX IV will be Sweden's next-generation high-performance synchrotron radiation source. The project has recently been granted funding and construction is scheduled to begin in 2010. User operation for a broad and international user community should commence in 2015. The facility is comprised of two storage rings optimized for different wavelength ranges, a linac-based short-pulse facility and a freeelectron laser for the production of coherent radiation. The main radiation source of MAX IV will be a 528 m ultralow emittance storage ring operated at 3 GeV for the generation of high-brightness hard x rays. This storage ring was designed to meet the requirements of state-of-the-art insertion devices which will be installed in nineteen 5 m long dispersion-free straight sections. The storage ring is based on a novel multibend achromat design delivering an unprecedented horizontal bare lattice emittance of 0.33 nm rad and a vertical emittance below the 8 pm rad diffraction limit for 1 Å radiation. In this paper we present the beam dynamics considerations behind this storage-ring design and detail its expected unique performance.

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