Swift, the worldwide bank messaging network, said it is giving members rebates on fees for 1993 and will reduce its fees for next year, as the result of cost cutting.

Swift, which stands for the Society for Worldwide Interbank Financial Telecommunication, was able to reduce fees in part because message traffic on the network rose by about 13% to 450 million in 1993, said Leonard Schrank, chief executive of Swift.

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