NYSE Euronext makes loss in 2Q

PARIS — NYSE Euronext, the trans-Atlantic stock exchange operator, said Thursday it made a loss in the second quarter as it took a contract termination charge connected to the launch of its London-based derivatives clearing platform.

The company said it made a net loss for the quarter ended June 30 of $182 million, compared to net profit of $195 million a year earlier.

NYSE Euronext blamed the loss on $442 million in merger expenses and exit costs, including a $355 million contract termination charge for the derivatives clearing house NYSE Liffe Clearing, which was launched Thursday. The charge covered the cost of ending a contract with rival derivatives clearing house LCH.Clearnet.

The company also took a $87 million charge related to planned job cuts in Europe and the U.S. It said about 230 jobs would be cut in Europe and 60 in the U.S.

In a statement, NYSE Euronext Chief Executive Duncan Niederauer said the launch of NYSE Liffe Clearing will generate revenue of more than $100 million annualy, while the planned staff cuts “will result in significant future cost savings.”

Excluding the merger expenses, exit costs and other items, earnings for the quarter were $132 million, down from $199 million a year earlier, as lower prices in the U.S. and European cash markets along with falling volumes in European derivatives hurt overall sales, the company said.