ER25 maximum holding size is 16mm, ER32 is 20mm.
An ER collet Chuck for a lathe will be backplate mounted, and so allow material to pass through into the Headstock. As Roderick says, 15mm for Series 7 Myfords, so ER25, (unless you have one of the later 4MT Super Sigmas in which case ER32, possibly ER40)
An ER Collet chuck for a Mill mounts on an arbor, and is intended to hold cutters, and so has no through bore.
ER collets are very useful, they have a range of 1mm, (except in the smaller sizes, such ER11 or 16) so can be used to hold Metric or Imperial sizes.
You can make up your own holders, for specific purposes. (such as drill grinding) They all use the same 16 degree internal taper (Offset the Topslide by 8 degrees to bore the holder after drilling to the maximum size for the collet size that you are using) for the holder, and the thread pitch is 1.5mm for the closing Nut. Thread size seems to be that of the next size up, ER 25 has a 32 x 1.5mm, ER32 has 40 x 1.5mm ,based on what I have seen. I finish by polishing the bore by wrapping emery round a collet, and running the lathe slowly. DON'T press too hard or it will grab and you could injure yourself. Be content to make haste slowly, after all, you are polishing, not roughing out.
I don't bother with making the Closing Nut, too complcated, so just buy from Arc EuroTrade.
HTH
Howard