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Is there a library which exposes order-book and trading functionality of major exchanges like BTC-e, Bitfinex, Cryptsy etc. ? I know these site have their own API but I wanted to re-use the code, if some sort of library is already available.

I am looking for a java library in particular.

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Check out xchange on github:: https://github.com/timmolter/XChange

It works on multiple exchanges, and is written in Java.

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You may also want to take a look at my ccxt library on GitHub: https://github.com/kroitor/ccxt

It is a JavaScript / Python / PHP library for cryptocurrency trading and e-commerce with support for many bitcoin/ether/altcoin exchange markets and merchant APIs.

The library is used to connect and trade with cryptocurrency / altcoin exchanges and payment processing services worldwide. It provides quick access to market data for storage, analysis, visualization, indicator development, algorithmic trading, strategy backtesting, bot programming, webshop integration and related software engineering. It is intented to be used by coders, developers and financial analysts to build trading algorithms on top of it.

It is under heavy development right now, but already offers a quick-start for trading and technical analysis with many crypto exchange markets out of the box.

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