A toolholder (121, 121', 121") comprising a cutting head clamping arrangement, comprising: a body (123, 123', 123") comprising a first end (125, 125', 125") and a second end (127, 127', 127"), and an axial opening (129, 129', 129") extending from the first end (125, 125', 125") toward the second end (127, 127', 127"), the axial opening (129, 129', 129") of the body (123, 123', 123") comprising a first portion (131, 131') having a first diameter and a second portion (147, 147', 147") having a second diameter, the first portion (131, 131') of the axial opening (129, 129', 129") of the body (123, 123', 123") being closer to the first end (125, 125', 125") than the second portion (147, 147', 147") of the axial opening (129, 129', 129") of the body (123, 123', 123") and the first diameter being larger than the second diameter, wherein a rod (151', 151") is movably disposed in the axial opening (129, 129', 129") of the body (123, 123', 123"), the rod (151', 151") comprising a first end and a second end, and an axial opening defined by a plurality of axially extending fingers at the first end of the rod (151', 151"), the fingers being elastically movable radially outwardly toward the interior surfaces of the first portion (131, 131', 131") of the axial opening (129, 129', 129") of the body (123, 123', 123") upon application of a radially outwardly directed force to the fingers, and characterized in that the rod (151', 151") is movable in the axial opening (129, 129', 129") of the body (123, 123', 123") between a clamping position in which exterior surfaces of the plurality of fingers are at least partially axially aligned with interior surfaces of the second portion (147, 147', 147") of the axial opening (129, 129', 129") of the body (123, 123', 123") to keep a radial position of the plurality of fingers constant and an unclamping position in which the exterior surfaces of the plurality of fingers are axially aligned with and spaced radially inwardly of interior surfaces of the first portion (131, 131', 131") of the axial opening (129, 129', 129") of the body (123, 123', 123") and are movable radially outwardly only upon application of the radially outwardly directed force to the fingers. a body (123, 123', 123") comprising a first end (125, 125', 125") and a second end (127, 127', 127"), and an axial opening (129, 129', 129") extending from the first end (125, 125', 125") toward the second end (127, 127', 127"), the axial opening (129, 129', 129") of the body (123, 123', 123") comprising a first portion (131, 131') having a first diameter and a second portion (147, 147', 147") having a second diameter, the first portion (131, 131') of the axial opening (129, 129', 129") of the body (123, 123', 123") being closer to the first end (125, 125', 125") than the second portion (147, 147', 147") of the axial opening (129, 129', 129") of the body (123, 123', 123") and the first diameter being larger than the second diameter, wherein a rod (151', 151") is movably disposed in the axial opening (129, 129', 129") of the body (123, 123', 123"), the rod (151', 151") comprising a first end and a second end, and an axial opening defined by a plurality of axially extending fingers at the first end of the rod (151', 151"), the fingers being elastically movable radially outwardly toward the interior surfaces of the first portion (131, 131', 131") of the axial opening (129, 129', 129") of the body (123, 123', 123") upon application of a radially outwardly directed force to the fingers, and