Extensions and renormalized traces

It has been shown by Nistor that given any extension of associative algebras over C, the connecting morphism in periodic cyclic homology is compatible, under the Chern-Connes character, with the index morphism in lower algebraic K-theory. The proof relies on the abstract properties of cyclic theory, essentially excision, which does not provide explicit formulas a priori. Avoiding the use of excision, we explain in this article how to get explicit formulas in a wide range of situations. The method is connected to the renormalization procedure introduced in our previous work on the bivariant Chern character for quasihomomorphisms, leading to "local" index formulas in the sense of non-commutative geometry. We illustrate these principles with the example of the classical family index theorem: we find that the characteristic numbers of the index bundle associated to a family of elliptic pseudodifferential operators are expressed in terms of the (fiberwise) Wodzicki residue.