CME E-Mini 500 Futures
Introduced in 1997 the e-mini S&P 500 futures contract is the most liquid stock index future in the world. The index is based on leading companies across major industries in the US. It can be traded both day and night. The smallest price increment is .25 index points or $12.50. The value of an e-mini S&P futures contract is the index level multiplied by 50. So if the index is trading at 1250, the contract is worth 1250 x 50 = $62,500.
For further details, visit the CME Website