Which of the Following Is the Reason for the Formation

Which of the following is the reason for the formation of underwriting syndicates?

A) To ensure that the auction trading process is completed in a fair and efficient manner
B) To enhance liquidity in large block trades by maintaining continuous up-to-date prices for the securities they are assigned
C) To regulate the issuance and trading of stocks and bonds
D) To provide the issuing company with the most competitive underwriting bids
E) To spread the risk associated with the purchase and distribution of a new issue of securities