This paper presents a methodology to evaluate transient stability constrained available transfer capability (ATC). A linear and fast line flow–based (LFB) method was adopted to optimize the ATC values. This enabled the direct determination of the system source–sink locations. This paper formulated different market transactions considering bilateral and multilateral impacts in the stability constrained ATC. The proposed method was demonstrated on the WECC 9-bus and IEEE 39-bus systems. The critical energy performance index (CEPI) enabled the direct identification of candidates for contingency screening based on ranking. This index helped to reduce the list of credible contingencies for ATC evaluation and, therefore, the computation time. The results of the proposed ATC method are consistent with the literature and can be deployed for fast assessment of the impact of transactions in an electric power system.