It is thought Swindon were unable to offer the 24 year old a longer spell because of budget restrictions.
"Hopefully it gets sorted and I can stay here, although I think a few things have to happen first," Martin told BBC Wiltshire.
"I would have liked to have extended it until the end of the season right away but that's not the case.
"I think I've settled in quite well. The manager has said he wants to keep me and it's worked out well."
Martin has six months left to run on his three-and-a-half year deal with Norwich and is aware he must prove himself this term.
"I have to concentrate on doing it on the pitch, because I won't be earning any contracts anywhere if I'm not performing," he added.
"Every footballer says it, but it is true. If I play as well as I can then that situation will get sorted.
"From my point of view I want the security of a contract somewhere, but its run down now at Norwich. I'm into the last six months and if I can do the business on the pitch then roles could be reversed and I could be in a strong position."