Selling syndicate

A selling syndicate is a group of underwriters working together to sell a securities issuance to the investing public. The group does so by buying the securities from the issuer and reselling them. Sales are typically made to smaller brokerage firms, which then sell the securities to individual investors. A selling syndicate is not a permanent arrangement; underwriters come together for the sale of a specific security and then split up once the sale transaction has been completed.