"The CBOE (Chicago Board Options Exchange) was opened for trading in 1973 and the Black-Scholes model was developed in 1973. This started a renaissance in options trading, as prior to 1973, options were wildly priced and the options market was dominated by shady figures more akin to high-stakes Vegas gamblers, mafia members, or bookies, than modern banks, hedge funds, or insurance companies. Because of this, counterparty risk was a major issue prior to 1973 but is no longer an issue when trading exchange-traded options on the CBOE."

True or False