The term “Forward Freight Agreement”(FFA) is still unfamiliar to the nation’s shipping market. The FFA can be referred to as the “Marine Freight Conditional Freight Agreement.” This is the ‘Derivatives’(Financial Product) which are used in the shipping market. Typically, the Baltic Clearing House(Baltic Exchange), the UK’s international shipping exchange, quantifies the bulk rail market via the Baltic Dry Index(BDI). Using such informations, at present, we are striving to reduce future risks in marine transportation and to generate profit by predicting future fares and trading. BDI, formerly known as the preceding example, represents the marine freight index of raw materials such as coal, iron ore, and crops, and is one of the various marine freight indices (FFA) through sea transport. Moreover, there are various maritime freight indices such as CCFI(China Containerized Freight Index) announced on the Shanghai Shipping Board, HRCI(Howe Robinson Containership Index) announced on Howe Robisson C. I that British shipping consulting and brokerage firm, etc. However, Korea is not building its own maritime freight index due to legal problems and the lack of the shipping exchange. This creates instability in trading structures using FFA. So this trade is failing actively. In particular, although the Act recognizes the FFA as a derivative financial instrument, the classification of the legal regulations will not reflect the characteristics of the FFA. It will hinder the activation of the FFA. The marine shipping market should not only be limited to domestic transactions, but also to trade with foreign transactions. However laws and enforcement ordinances define the FFA as ‘Exchange-Traded Derivatives’ rather than ‘Over-the counter derivatives’. The Capital Markets and Financial Investment Act does not reflect the characteristics of the FFA.