We see that USDTRY implied liquidities published by FMS aren’t traversing TREP correctly.
The message is large so is split over 3 TREP packets – we expect to receive a packet of REFRESH_RESP without REFRESH_COMPLETE for the first two packets followed by as REFRESH_RESP and REFRESH_COMPLETE. At which point we can correctly process the message.
On the non working version we get a single packet from TREP with REFRESH_RESP and REFRESH_COMPLETE set. In that packet we have a handful of tenors that are correct but also have to filter out some bad tenors.
We are currently using RFA 7.2.0, Note: this is a cascaded service