Institutional FX execution specialist and crypto LMAX Group today announced that the company has reached an agreement with Silicon Valley Bank (SVB) to increase its entire credit facility from £20 million to a potential £40 million. LMAX initially entered into a £20 million loan agreement with SVB in early 2018 to finance a management buyout of external investor Paddy Power Betfair plc (now Flutter Entertainment plc) and its 33% stake in the company. This deal appears to have worked well for both parties, with LMAX significantly increasing its revenues and profits over the next three years (despite a slight decline over the 1H-2020 period), while becoming a significant player in both FX liquidity and crypto-liquidity. LMAX`s cash flow allowed the company to repay both the initial loan to SVB and adapt to its continued growth. The situation in the example above is quite natural. Calculation and pricing between buyer and seller can be part of the company`s strategy, agreement or commitments. But from the point of view of the customs department of the importing country, it is a loss of revenue for the government of the importing country. In other words, if the same commercial transaction takes place between independent parties, the value of the imported goods would in turn be higher than the import customs duties….