Franken "powRgrip®" Cutting Tool Clamping System uses a press-fit collet.
These PGR collets have a taper shank with plane contact surface and a central bore for the tool shank.
Collet and cutting tool are simply pressed into the PGR tool holder and pulled out again together after use.
In this way, a tool can be changed within 10 seconds.
The pressure fit provided by the taper creates a radial force which is concentrated on the tool shank by way of the slotted collet, and which holds the tool safely and with a high degree of concentricity.