# Market data subscription

After connecting to the market data channel, the client subscribes to market data by sending a [Market Data Request `<V>`](/trading/fix/market-data/exchange-bound-messages/market-data-request) message.

When a client disconnects for any reason, the market data subscription is terminated. Upon reconnecting, the client needs to send another [Market Data Request `<V>`](/trading/fix/market-data/exchange-bound-messages/market-data-request) message.

1. Client sends a [Market Data Request `<V>`](/trading/fix/market-data/exchange-bound-messages/market-data-request)
2. Gemini responds by sending one [Market Data - Snapshot/Full Refresh `<W>`](/trading/fix/market-data/client-bound-messages/market-data-snapshot-full-refresh)
3. As bids, offers, and trades happen on the exchange, Gemini sends [Market Data - Incremental Refresh `<X>`](/trading/fix/market-data/client-bound-messages/market-data-incremental-refresh) messages