  A generalization of the coordinated transaction scheduling (CTS)---the
state-of-the-art interchange scheduling---is proposed. Referred to as
generalized coordinated transaction scheduling (GCTS), the proposed approach
addresses major seams issues of CTS: the ad hoc use of proxy buses, the
presence of loop flow as a result of proxy bus approximation, and difficulties
in dealing with multiple interfaces. By allowing market participants to submit
bids across market boundaries, GCTS also generalizes the joint economic
dispatch that achieves seamless interchange without market participants. It is
shown that GCTS asymptotically achieves seamless interface under certain
conditions. GCTS is also shown to be revenue adequate in that each regional
market has a non-negative net revenue that is equal to its congestion rent.
Numerical examples are presented to illustrate the quantitative improvement of
the proposed approach.
