Abstract: The tool changing mechanism is provided with means for the direct transfer of tools through the working sleeve or spindle. The transfer means preferably have rapid clamping means, which are controlled by the working movement of the spindle or sleeve, so that there is no need for a separate transfer station for the tools from the magazine to the spindle or sleeve, so that much space is saved. The magazine is preferably essentially arranged around the assembly for receiving and guiding the working spindle or sleeve. Preferably, the magazine is substantially located over the projected base surface of the machine working table.