There’s only one answer that leads to a reliable situation:
an NSR owner who doesn’t want others (e.g. exchanges) to mint with his/her NSR is well advised not to have NSR outside the own wallet 
As exchanges don’t have a stake in Nu, they shouldn’t mint.
One could argue that more minting increases the network security, but that is not really true.
If no exchange would be allowed to mint (that can’t be forced, though…), the ratio of minting NSR (compared to the total amount of minting enabled NSR) would only be higher (assuming you cancel the NSR kept at exchanges form the “minting enabled” NSR) if the ratio of minting NSR is low.
So it’s no big security plus (given the current difficulty and hence the minting ratio¹), but it leads to awkward situations where exchanges can follow an own agenda, which might not be in the best interest of the NSR owner - even if feeds are used!
…and they don’t even have to pay for that; instead they get rewarded by 40 NSR per block…
I can only recommend not to keep NSR at exchanges for longer than necessary.
¹ it would be crazy to find out that the difficulty is only that high because exchanges are minting like hell…