This paper presents a novel dynamic model of a matrix converter (MC) that utilizes a space vector modulation (SVM) switching method. The MC is intended as the interface medium between a distributed resource (DR) unit, e.g., a micro-turbine-generator, and the utility grid. The MC model is developed in the direct- and quadrature-axis reference frame to be consistent with the utility grid model for dynamic studies. The model can be used for investigation of large signal transients as well as small signal dynamics. The accuracy of the model is validated by comparing the study results obtained from the developed model with those from the exact switched-model of the MC in the PSCAD/EMTDC environment.