an inexpensive Internet trading service on Friday.

UBS said it would cut fees for some existing on-line equity trading by more than 20%. The cost of using the new service, UBS Tradepac, will be as much as 70% lower than the bank charges now.

UBS has 190,000 Internet clients and a 50% share of the Swiss on-line market.

Switzerland's largest bank faces stiff competition in Europe from banks that are expanding on-line services.

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