FYI, this needed a simple search to lookup the Java Documentation for java.sql.Timestamp It might have solved your query before you got any help from anyone else.
I am guessing you are using Timestamp to communicate with the JDBC API to identify it as a "SQL TIMESTAMP" value.
If you are not using any database why go for Timestamp at all. The thing is, the java.sql.Timestamp is essentially a type of java.util.Date except for the nanoseconds part.
If you do not want the fractional seconds and not using database operations you can go for methods from java.util.Date.
The first line creates a calendar with the current moment, including milliseconds (Calendar doesn't know about nanoseconds). You then set the date, hour, minute and second, but the number of milliseconds remains the same.
Simply add the following call to reset the number of milliseconds:
Actually you do not have to wait. You can include JodaTime library in your project today. Among other benefits, having an immutable date is a blessing. I work with dates extensively in my project and JodaTime was a life-saver.
Unfortunatelly, when I last checked it seemed to me it won't make it into JDK7, but I may be mistaken as I don't know the details of JDK development politicies.