I agree that this will help before the exchange shows up and certainly will have it's use after as well.
I gave the name a bit of a thought but came up empty. There is nothing in Icelandic that translates from local that would be attractive as the name. I suggest to just forget trying to have something similar to the original name. Maybe you could use skiptum.is? It means let's trade or let's exchange. I have checked and the domain is available.
I would have written a shorter letter, but I did not have the time. - Blaise Pascal