The IQ message log is a message log file created when the first user connects to an IQ database. The default name for this file is dbname.iqmsg.
IQ_SYSTEM_MSG is a system dbspace that points to the file path of the database IQ message log file. IQ_SYSTEM_MSG is not considered a store because it doesn’t store any data. Sybase IQ logs error messages, status messages and insert notification messages in this file.