Commercial banks can become major competitors in the traditional and electronic brokerage businesses, but they are at risk of losing the game if they don't hurry, two top brokerage executives said Friday.

At the same time, the executives, David S. Pottruck, president and co-chief executive officer of Charles Schwab & Co., and Robert P. Mazzarella, president of Fidelity Brokerage Services Inc., said they did not feel a strong need to expand their own companies' offerings of traditional bank products. The two also rejected the idea of merging either of their firms with a bank or an insurer.

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