NYSE Euronext (NYX) on Thursday reported a net loss of $182 million for the second quarter, driven by charges for staff cuts and a new clearing deal, though the company pledged to exceed its cost-saving target for the year.

A modest rise in revenue from the prior quarter and lower expenses year-on-year was wiped out by the $355 million paid to LCH.Clearnet Group Ltd. under a deal that sees the stock market and derivatives exchange operator take more of its clearing in-house.

It's the first time NYSE Euronext has disclosed the scale of the compensation paid to LCH, though Chief Executive Duncan Niederauer said the move "is expected to generate revenues in excess of $100 million annually and is anticipated to be accretive in 2009, and the staffing reductions we have made will result in significant future cost savings."

The cost of staff cuts in the U.S. and Europe also weighed on the quarter, though earnings were ahead of consensus excluding special charges, and the company said it would beat its target of extracting $100 million in synergies this year from the acquisition of the American Stock Exchange.

The reported net loss of $182 million, or 70 cents a share, compared with a $195 million profit in the second quarter of 2008. Excluding one-off charges, a 51-cent surplus in the latest quarter was ahead of the 45-cent consensus among analysts.

NYSE Euronext, like rivals, has been paring expenses to counter intensifying competition in the cash equities business and a slide in volume of some its core derivatives products, its largest business segment by revenue.

The company is cutting almost 300 staff, a move that helped cut fixed costs by 6% compared with a year ago.

Revenue rose to $1.125 billion from $1.03 billion a year ago and $1.1 billion in the prior quarter, with the company citing the positive impact of pricing changes for the sequential improvement.

-By A.H. Mooradian, Dow Jones Newswires; +33 1 4017 1740; art.mooradian@dowjones.com

(Doug Cameron contributed to this article)