A cap and trade system is probably something that's going to be more useful in a situation in which you have a limited number of emitters. I don't think you'd want to create a national cap and trade system whereby individual Canadians would have a carbon cap and they'd be able to trade their allowances back and forth. I think that would be, from an administrative perspective, completely unworkable.
The cap and trade system is better suited to where there's a smaller number. For example, in the situation of industry, electricity generation, and oil and gas producers, those would be potentially more suitable for a cap and trade system.