The New York City Subway is a rapid transit system owned by the City of New York and leased to the New York City Transit Authority, a subsidiary agency of the state-run Metropolitan Transportation Authority. The New York City Subway is one of the world's oldest public transit systems, one of the world's most used metro systems, and the metro system with the most stations and the most trackage. It offers rail service 24 hours per day and every day of the year.