Scenarios where MPO can be useful You have a price range in mind beyond which you are not willing to pay : Put the lower price as your first price and higher price as the second price You want to buy a share at a lower price but are particular about buying the stock on the same day : Put the lower price as your first price (limit price) and market price as the second price In case of selling the shares, you can place the higher price as your first price and the lower price as second price.   1st Illustration : Mr. A wishes to buy XYZ Ltd trading at 120 per share but at a price lower that the current market price. Mr. A, however, is particular that he will buy the stock only if the price of the stock comes down to his desired price. With Multi Price Order, Mr. A can place a Buy order for XYZ Ltd as below: Since Mr. A wants to buy the stock at a lower price, he puts his first price, i.e., Limit Price as 110. Here, Mr. A’s quoted price is far from the current market price of XYZ Ltd but since he wants to buy the stock at a lower price only, he places his second price also as a limit price. He quotes his 2nd limit price as 116. As it is evident, Mr. A has placed his second price closer to the current market price. This is done to ensure that, though, the second price is higher than the first price, it will still be lower than the current market price. This second price will come into play only at the end of market hours. Till then, the system will try to execute the order at the first price. If order gets executed, Mr. A will either get the shares at 110 or at 116.   2nd Illustration : Mr. B wishes to buy XYZ Ltd trading at 120 per share but at a price lower than the current market price. However, Mr. B is very particular about buying this stock and wants to add this stock to his portfolio at any cost. With Multi Price Order, Mr. B can place a Buy order for XYZ ltd as below: Since Mr. B wants to buy the stock at a lower price, he puts his first price, i.e., Limit Price as 112. Here, Mr. B’s quoted price is at a difference of 8 from the current market price of XYZ Ltd which the stock may or may not reach. But since he wants to own the stock at the end of the day, he places his second price also as Market price. As the basic function of Multi Price order, the second price will come into play only at the end of market hours. Till then, the system will try to execute the order at the first price. If order gets executed, Mr. A will get the shares at 112 while, if the order does not get executed at the first price, it will get executed at Market price at the end of the day.