Standard or custom tool? What might it be used for? Insert designation?

I had guessed the first two letters....thank you for your time!
 
You should be able to use a double sided insert in that. That would give you 6 cutting edges. The thickness will be from the shim to the top of the screw.
 
That is a cartridge used in boring heads, years ago we used them in machines pre CNC, of course in CNC machining centers.

Yes they use TNMG style inserts. You could build tooling to adapt to lathes or make a some some kind of boring heads too.


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