Yes, a market-based cap-and-trade system is more feasible than a carbon tax, for the sole reason that the cap-and-trade system has wide international support. With the cap-and-trade system, there is a guarantee that there will be a limit to the amount of emissions in the air. Because the carbon tax has no such guarantee, it is not as popular in the international scientific community.
There is almost nothing market based about the so call cap-and-trade system in vogue today. Carbon taxes are a solution to old problems straight out of an environmental economics textbook; find the cost of damage per ton of carbon (about $20/ton today according to IPCC) and subject factories/corporations/gasoline to the tax proportionally. The world may change, but the carbon tax is efficient and, above all else, fair and logical.