What are the intricate differences between SSF and CFD?
The similarities are that both take into account interest and settled daily thus looks more or less the same pima facie.
The basic difference is that CFDs are over-the-counter products and SSF are exchange listed products.
This does not, however, hold entirely true anymore as some CFDs are listed (example, http://www.asx.com.au/products/asx-listed-cfds.htm ).
But the historical reason for CFD's origin was that over-the-counter products could provide more leverage and such products were easier to register and distribute and hence more exotic products could be created. Also, CFDs can take exposure to markets that exchanges would not touch (for regulatory reasons), such as the A-share listed Mainland Chinese markets.