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This work presents a software tool that was developed for market monitoring and performance evaluation as well as other applications in planning and market design. Called PROBE (Portfolio Ownership Bid Evaluation), it includes the network model and schedules/optimizes all type of bids and market products in a complex and congested market. The design is in compliance with FERC's standard market design. A great variety of outputs allows for market analysis, determination of potential market power, portfolio analysis, and sensitivity analysis.