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Introducing of financial transmission right (FTR) is a significant trend in transmission congestion management and is also the center of debates. Based on the existing research, this paper introduces the mode of PJM FTR auction market used in congestion management and proposes an integrated process of congestion management including both contract and spot markets. As an analyzing result, this paper points out that FTR used in congestion management is more appropriate to the deregulated environment, which can hedge congestion charges, show the accurate signals, and so on. However, some bidders may have market power to influence the FTR auction clearing price, and as they make inaccurate forecasting of the system operation mode, FTR they owned may become a liability. In addition, in order to assess the bidders' economic effect during the congestion management with FTR, an index zetai called net compensation index (NCI) is defined with which bidders' economic effect can be quantificationally evaluated. The numerical simulation results of IEEE 30-bus system demonstrate that the efficiency of the suggested approach with NCI.