Before revision:  Hence DI swaps have model-free fair values, in that a no-arbitrage assumption for forward prices is sufficient to derive exact option replication portfolios with neither jump nor discrete monitoring errors. This restriction allows the characterisation of a vector space of DI swaps which provides a great variety of risk premia .
After revision:  Hence DI swaps have model-free fair values, in that a no-arbitrage assumption for forward prices is sufficient to derive exact option replication portfolios have no discrete-monitoring or jump errors .