Underwriting is the core of the capital markets. When companies need to receive funds to finance growth or for other reasons, they approach an underwriting group to acquire the services necessary to complete the transaction. The underwriting group consists of multiple broker-dealers, who work together to accomplish the issuance.

The underwriting group is responsible for ensuring that the transaction is successfully conducted from start to finish. This includes evaluating the issuer’s ability to issue the securities, determining the appropriate issue size and structure, setting a price and other terms for the offering, and identifying potential buyers for the securities.

Moreover, the underwriting group is responsible for the marketing and distribution of the offering. The underwriting group creates and distributes a prospectus, which outlines the issuer's business and financial performance. This prospectus helps potential investors to understand and determine the investments’ value and risk.

In order to properly serve the issuer, the underwriting group must take a number of actions:

First, the underwriting group assists the issuer in its financial analysis to determine the market conditions to determine the appropriate price of the new securities.

Second, the group will establish the underwriting Syndicate which is composed of members of the underwriting group. The underwriting Syndicate will be responsible for distributing the securities in the market.

Third, the underwriting group will make sure that the issuer's business and financial information is accurate and complete.

Finally, the underwriting group ensures that the issuer's securities comply with all applicable laws and regulations.

The success or failure of an underwriting transaction is dependent on the capabilities of the underwriting group. An effective underwriting group will provide the issuer with valuable advice, determine the most appropriate offering structure and establish an efficient distribution strategy. As such, an underwriting group plays an integral role in the success of a securities offering.