NYSE Euronext (NYX) and London-based clearinghouse LCH.Clearnet on Wednesday downplayed perceptions of a growing schism over their respective plans to clear credit derivative trades.

In a statement, the two companies emphasized their commitment to clearing credit-default swaps via NYSE Euronext's BClear platform, their joint effort that went online in late December and remains the sole functioning CDS clearing service.

While 31 market participants are planning or implementing connections to the BClear CDS clearing service, NYSE Euronext has yet to see any activity on the platform, according to an exchange spokesman.

On Friday LCH.Clearnet revealed plans to develop a new, Europe-focused clearinghouse for the $30 trillion credit default swap market, to be operated by Paris-based LCH.Clearnet SA, throwing into question its existing partnership with NYSE Euronext.

The two companies stated Wednesday that LCH.Clearnet's plans to establish a Eurozone CDS clearinghouse are "complementary" to the existing partnership with NYSE Euronext.

The firms said they will work together to "deliver synergies for all CDS clearing customers" across both services, although the nature of those synergies will depend on LCH.Clearnet firming up details of its CDS clearing solution.

LCH.Clearnet currently plans to introduce its swaps clearing service by the end of the year; the clearinghouse has yet to divulge which credit derivatives products it will clear.

NYSE Euronext's relationship with LCH.Clearnet has been in flux over recent months, as the trans-Atlantic exchange operator will transfer clearing of its NYSE Liffe derivatives products onto its new LiffeClear platform in the coming months.

Under the terms of an agreement forged last fall, LiffeClear will serve as central counterparty to trades in those markets, with LCH.Clearnet maintaining risk management and day-to-day clearing processes.

LCH.Clearnet continues to clear all of NYSE Euronext's European cash equities products.

Eurex, the derivatives arm of Deutsche Boerse (DB1.XE), also plans to launch CDS clearing for European markets by the end of the first quarter.

In the United States, derivatives exchanges CME Group Inc. (CME) and IntercontinentalExchange Inc. (ICE) are preparing their own platforms.

-By Jacob Bunge, Dow Jones Newswires; 312-750-4117; jacob.bunge@dowjones.com