How do I create a link from a URL on the clipboard?

In addition to manually creating links using the MultiMarkdown syntax, Multimarkdown Composer has a special feature. If you have a URL copied to the clipboard, make a selection in your document, and then paste the URL, Composer will automatically create a Multimarkdown formatted link out of the selection.

For example, if you highlight the word "demonstrate" in your document, and paste the URL "example.net", your document will now contain:

[demonstrate](http://example.net/)

This works with any standard URL ("http:","mailto:","ftp:", etc). If you simply paste a domain name, it will be converted to "http:" by default, as in the example above.