Market Data Adapter

Market data adapter receives the market data from the different exchanges and converts it into a standardized format by using data normalizer. Data reflecting current trading information is used by traders to assess the worth of various assets, as well as to create strategies.  

An algorithmic trading system may or may not understand the language of the Exchange. So, the exchange provides each trader with an API which allows him to program and to create his own adapter which can convert the data into a format the system can understand.