Short answer: `R8-ER16` is a R8 machine-taper holder fitted with an ER16 collet chuck; it holds tools from 1 mm to 10 mm shank diameter. The R8 end goes into the spindle (R8 shank, common on Bridgeport-type milling machines), the ER16 end grips the tool.

Collet range is set by DIN 6499. A 12 mm end mill needs ER16 or larger; an ER16 will not close on a shank outside 1–10 mm.