Are you implying that they are not providing liquidity to "real financial markets"? In that case do you mind making your argument?
If you’re implying that somehow grandma is being done a disservice because her pension fund can’t make the trades they want when they want then YOU need to explain how “liquidity” benefits anyone that matters.
And I'm not sure how to respond to anyone that buckets people into those that do and those that don't matter. Your argument doesn't seem to be made in good faith.
Such a weird attack and downvote just for asking for a clarification?