As part of on-going efforts by the NYISO and PJM to address emerging seams issues across the shared interface between the NYISO and PJM, joint stakeholder discussions are being held to develop an Interchange Optimization proposal called Coordinated Transaction Scheduling (CTS). The objective of CTS is to improve the overall interchange scheduling efficiency between NYISO and PJM. The CTS proposal provides an additional scheduling option that is expected to increase both forward price transparency and market efficiency. Additionally, the CTS proposal should create significant opportunity for increased efficiency over the shared interface between NYISO and PJM in regards to price convergence, utilization and flow direction.