Repurposing part for a floating tailstock die holder

[Canobi]

If I have this right, floating refers to a part of a tool that travels freely in a given direction. In this case its the inner section which holds the die, it can be pulled all the way out as it's not fixed in place by the outer section that is held in the tailstock.

[olderdan]

Not saying this is the wrong description but the term floating holder is usually understood to be a holder that is free to let the tool move to the true centre of axis. Most commonly used with taps and reamers as a slight tailstock misalignment could result in an oversize or bellmouthed hole. I have two sizes of die holders for the lathe and have always thought of them as a sliding holder, very useful tool nonetheless.

[Canobi]

Wasn't 100% on my definition so thanks for clarifying