"The value of franking credits for CFD traders is unknowable, depends on the tax status of the trader"
I agree that it is probably not possible for a CFD trader to obtain the benefit of franking credits, but my question was, for CFDs who does get the benefit of franking credits? If the CFD provider is a DMA CFD provider then the provider will have bought shares in the market, so presumably the CFD provider will get the franking credits. I don't see anything untoward with this. It would be difficult or impossible for CFD providers to handle dividends any other way.
I am a fan of CFDs, but this appears to be a negative aspect of CFDs that traders need to be aware of. Exactly the same as long-term investors, short-term traders get dividends and franking credits if they hold shares directly when the shares go XD. But if traders hold the shares via CFDs they get only the value of the dividends (not as a dividend but as an adjustment). Where dividends are concerned, the difference between holding shares directly and holding CFDs can be significant.