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Valve released a minor update for CS:GO last night, which introduced the much desired match making system among many other things.

The highlights aside from the matchmaking system were the changes to the SMG kill bonuses being dropped down to 200%, the release of the classic map de_vertigo, reduced pricing of the Shotguns by a set $300, and various other bug fixes and enhnancements. 

Transient

The matchmaking system should help cultivate many more casual players into competitive players, which would be great for the competitive scene as a whole. It provides "level-set" 5v5s that are a best of 30, and allows you to join a "lobby" until the match has 10 similarly skilled players.

It also has a built-in cool down period for players who "pug leave" or abandon the match mid-game.

To read all the release notes, see this link http://store.steampowered.com/news/8981/

Ryu