Meaning of underwriting syndicate
A temporary group of investment banks and broker-dealers who come together to sell new offerings of equity or debt securities to investors.

Example: fee distribution within an underwriting syndicate.

A group of investment bankers who underwrites the IPOs.There will be a lead underwriter and the fees obtained by selling of shares are distributed among the group.This fees is known as spread.The underwriter gets this fees for taking the risk if nobody buy the share,for negotiation and for selling of the shares.

Example would be as in investment banking, a group of underwriters responsible for placing a new issue of a security with investors. As with banking syndicates, the members of an underwriting syndicate work together for the duration of the project. Every syndicate is a temporary arrangement. It is also called a purchase group or a selling syndicate entilted to receive fees to sell it on best efforts.