Before revision:  Second, signature payoffs are used to derive a numerically feasible methodology to dynamically hedging exotic derivatives. It turns out that the only information one needs about the market to dynamically hedge exotic derivatives is the prices of these signature payoffs. These two aspects lead to a model-free approach to numerically price and hedge exotic derivatives from market data - more specifically, from market prices of other exotic derivatives. We demonstrate the feasibility of our approach in several numerical experiments .
After revision:  The implied expected signature is an object that characterises the market dynamics .