Can a sketch generate an axis?

When you sketch a slot, and extrude it, the center point creates a "temporary axis."  Creo has a "geometry point" and a "datum" point in its sketcher - the latter produces an axis when the sketch gets extruded.  Slots seem to have similar ability - is that functionality available to me?  Is there a special point or some way to create an axis in a sketch?

Thanks!

-Nate

SolidworksParts And Features