Before revision:   The central idea is to focus only on those properties that martingales and compensators show on infinitesimally short intervals.
After revision:  A fundamental tool for calculating and managing risks in finance and insurance are martingale representations. We present a general theory that extends classical martingale representations to non-monotone information generated by marked point processes. The central idea is to focus only on those properties that martingales and compensators show on infinitesimally short intervals.