J.P. Morgan & Co., following through on a strategy to take its in-house expertise to the online world, said Friday that it had created a company that will act as a back-office provider of derivatives transaction management and settlement services.

The company, Arcordia, is the latest example of Morgan's effort to tap in to the fast-growing New Economy. It is a joint venture by Morgan, which is supplying the derivatives know-how, and EDS Corp. of Plano, Tex., which is lending its information technology expertise.

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